Patient Handling Equipment Market Size, Share, Industry Trends and Forecast to 2030

Patient Handling Equipment Market Size & CAGR in 2021

The global patient handling equipment market had a market size of USD 10.5 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 7.2% from 2021 to 2028. The market is expected to reach USD 15.2 billion by the end of 2028.

COVID-19 Impact on the Patient Handling Equipment Market

The COVID-19 pandemic had a significant impact on the patient handling equipment market. With the strain on healthcare systems and the need to ensure patient safety, there was an increased demand for patient handling equipment. Hospitals and healthcare facilities had to invest in advanced equipment to handle the growing number of patients.

On the other hand, manufacturing and supply chain disruptions due to lockdowns and restrictions led to delays in the production and delivery of patient handling equipment. The market also witnessed a shift towards online sales channels as physical stores and clinics were closed during the pandemic.

Patient Handling Equipment Dynamics

The patient handling equipment market is driven by factors such as the increasing geriatric population, rising incidence of disabilities, and the growing focus on patient safety. Technological advancements in patient handling equipment, such as powered stretchers and patient lifts, are also fueling market growth.

However, challenges such as high costs associated with advanced patient handling equipment, lack of skilled professionals to operate the equipment, and regulatory constraints are hindering market growth to some extent.

Segments and Related Analysis

By Product Type:

- Patient Lifts
- Stretchers
- Wheelchairs
- Beds

By End User:

- Hospitals
- Nursing Homes
- Assisted Living Facilities
- Home Healthcare Settings

By Region:

- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa

By Region Analysis

- North America: The North American patient handling equipment market is witnessing steady growth due to the presence of advanced healthcare infrastructure and increasing adoption of innovative technologies in the region.

- Europe: The European market is driven by the growing geriatric population and supportive government initiatives to improve patient care. Countries like Germany and France are leading the market in the region.

- Asia Pacific: The Asia Pacific region is experiencing rapid growth in the patient handling equipment market due to the increasing healthcare expenditure, rising awareness about patient safety, and growing investment in healthcare infrastructure.

- Latin America: The Latin American market is expected to show significant growth opportunities with the increasing demand for advanced patient handling equipment in countries like Brazil and Mexico.

- Middle East and Africa: The MEA market is projected to witness steady growth driven by the improving healthcare facilities and the rising prevalence of chronic diseases in the region.

Key Market Players and Competitive Landscape

- Hill-Rom Holdings Inc.
- Stryker Corporation
- Getinge AB
- Invacare Corporation
- Joerns Healthcare LLC

The patient handling equipment market is highly competitive with key players focusing on product innovation, partnerships, and mergers to gain a competitive edge. Mergers and acquisitions are common strategies to expand market presence and enhance product portfolios.

Recent Happenings in the Patient Handling Equipment Market

- In January 2021, Hill-Rom Holdings Inc. announced the launch of a new patient lift system with advanced safety features for healthcare facilities.

- In March 2021, Stryker Corporation introduced a new line of motorized stretchers with ergonomic design and enhanced patient comfort features.

- In May 2021, Getinge AB partnered with a leading healthcare provider to supply patient handling equipment for a new hospital project in the Middle East.

- In August 2021, Invacare Corporation launched a range of lightweight wheelchairs with improved maneuverability and comfort for patients.